Decision Support System (DSS)
Categories: Financial Theory
Want a computer to make decisions for you? Always thought R2-D2 would make a good life coach? Then you're looking for a decision support system.
A DSS is a computer program that facilitates decision-making within a company (or other organization) by running through data and providing an analysis of possible options. Large organizations kick up large amounts of data...more than can get crunched by mere humans. The DSS makes the process manageable by processing large data sets.
The type of stats plugged into the system might include things like sales figures or customer demographics. The goal is to organize the data in a way to make decision-making easier for executives.